Orion Group (NYSE:ORN) Posts Earnings Results, Beats Estimates By $0.03 EPS

Orion Group (NYSE:ORN) released its quarterly earnings results on Tuesday. The construction company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.03, FiscalAI reports. The business had revenue of $233.22 million for the quarter, compared to analysts’ expectations of $222.42 million. Orion Group had a net margin of 1.13% and a return on equity of 6.88%.

Orion Group Trading Down 1.6%

NYSE:ORN traded down $0.21 during mid-day trading on Wednesday, reaching $13.20. 112,265 shares of the company’s stock traded hands, compared to its average volume of 344,015. The company has a 50 day moving average price of $12.13 and a 200-day moving average price of $10.07. The firm has a market capitalization of $526.68 million, a price-to-earnings ratio of 57.39 and a beta of 1.15. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.36 and a quick ratio of 1.35. Orion Group has a 12-month low of $4.64 and a 12-month high of $15.00.

Institutional Investors Weigh In On Orion Group

Several institutional investors and hedge funds have recently modified their holdings of the stock. Quarry LP bought a new position in shares of Orion Group during the 3rd quarter worth $33,000. Comerica Bank lifted its holdings in Orion Group by 219.7% during the third quarter. Comerica Bank now owns 5,183 shares of the construction company’s stock worth $43,000 after buying an additional 3,562 shares during the period. OpenArc Corporate Advisory LLC purchased a new stake in shares of Orion Group during the 4th quarter worth $100,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of Orion Group in the 3rd quarter valued at about $86,000. Finally, Millennium Management LLC acquired a new stake in Orion Group in the third quarter valued at approximately $91,000. 70.25% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on ORN shares. DA Davidson raised their price target on shares of Orion Group from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Thursday, February 5th. B. Riley Financial reiterated a “buy” rating on shares of Orion Group in a research note on Thursday, February 5th. Roth Mkm initiated coverage on Orion Group in a report on Tuesday, February 10th. They set a “buy” rating and a $17.00 price objective for the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Orion Group in a research note on Thursday, January 22nd. Finally, JPMorgan Chase & Co. initiated coverage on Orion Group in a report on Thursday, January 22nd. They set an “overweight” rating and a $16.00 target price for the company. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $14.88.

Orion Group Company Profile

Orion Group (NYSE:ORN) is a global provider of specialized staffing and workforce solutions, serving clients across the energy, industrial, and technical sectors. The company offers a range of services including engineering and technical recruitment, information technology staffing, and comprehensive workforce management. Orion Group focuses on delivering qualified talent for complex projects, from exploration and production in the oil and gas industry to large-scale infrastructure and manufacturing initiatives.

Founded in 1972 and headquartered in Jacksonville, Florida, Orion Group has grown its operations to support projects in North America, Europe, the Middle East, and the Asia–Pacific region.